The Wall Street Journal, March 2, 2022, Powell Says Fed Is on Track to Raise Rates in Two Weeks
Federal Reserve Chairman Jerome Powell said he would propose a quarter-percentage point rate increase at the central bank’s meeting in two weeks amid high inflation, strong economic demand and a tight labor market, offering an unusually explicit preview of anticipated policy action.
Mr. Powell said Wednesday that, before Russia’s invasion of Ukraine last week, he expected the central bank would follow that initial rate rise with a series of increases this year.
“For now, I would say that we will proceed carefully along the lines of that plan,” Mr. Powell told the House Financial Services Committee on Wednesday. “We’re going to avoid adding uncertainty to what is already an extraordinarily challenging and uncertain moment.”
